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Gold rises, concerns over US fiscal policy cap USD gains
- Gold prices climb as US fiscal concerns over Trump’s proposed tax bill support bullion gains.
- Fed Chair Powell comments on monetary policy at the ECB Forum, maintaining a data-dependent stance.
- XAU/USD trades near $3,350 after US ISM and JOTS data beat estimates, raising expectations for a September rate cut.
Gold prices are rallying on Tuesday as traders digest remarks from policymakers currently gathered at the European Central Bank (ECB) forum in Portugal.
Focus has been on comments from Federal Reserve Chairman Jerome Powell, who has been facing increasing pressure from US President Donald Trump to reduce interest rates in July.
Despite Fed Chair Powell’s hawkish comments and better-than-expected US economic data, which have helped limit US Dollar losses, XAU/USD continues to trade around $3,350 at the time of writing.
Fed Powell’s comments included, “As long as the US economy is in solid shape, we think that the prudent thing to do is to wait and learn more and see what those effects might be.”
So far, Powell has adhered to the cautious script, but investors are aware that this could shift quickly if the data dictates otherwise.
Additionally, Powell stated that “It’s going to depend on the data, and we are going meeting by meeting,” Powell said. “I wouldn’t take any meeting off the table or put it directly on the table. It’s going to depend on how the data evolve.”
These comments suggest that the Fed is not rushing to cut rates, increasing the potential for a September cut. With the US ISM Manufacturing and JOLTs data beating expectations, a resilient US data remains supportive of a more data-dependent Fed, limiting US Dollar losses.
Global policymakers gather at the ECB forum, a key event for Gold
The focus on Tuesday was on the European Central Bank (ECB) Forum on Central Banking, currently underway in Sintra, Portugal. This rare convergence of the world’s top central bankers offers a critical opportunity for markets to assess the direction of global monetary policy.
ECB President Christine Lagarde, Bank of Japan (BoJ) Governor Kazuo Ueda, Bank of England Governor Andrew Bailey, and Federal Reserve Chair Jerome Powell are currently speaking on monetary policy.
The joint appearance is more than symbolic. Previous Forums have triggered coordinated messaging or revealed stark divergences in policy outlooks that have moved major asset classes, including Gold, currencies, and bonds.
With central banks navigating a delicate balance between inflation control and slowing growth, any nuance in today’s remarks could set the tone for the third quarter.
Gold daily digest market movers: XAU/USD rallies on monetary, fiscal, tariff concerns
- The ISM Manufacturing PMI is expected to print at 48.8 for June. The June data came in above expectations at 49, rising from 48.5 in May.
- Job Openings and Labor Turnover Survey (JOLTS), where economists had expected around 7.3 million open positions as of May 31. Instead, the latest report revealed that job vacancies rose by 7.769 million, reflecting a resilient US labour market.
- President Donald Trump’s escalating criticism of Powell, including another sharply worded post on Truth Social on Monday, has raised concerns about the Fed’s independence.
- Trump’s post read, “Jerome – You are, as usual, ‘too late.’ You have cost the USA a fortune – and continue to do so – you should lower the rate by a lot!”
- The rhetoric has fueled speculation that Powell may either shift his tone or face replacement.
- That prospect has pressured real yields lower and driven fresh demand for Gold as a hedge against policy uncertainty and US Dollar weakness.
- President Trump issued a handwritten note with his signature to Fed Powell on Monday. The letter said that “Hundreds of billions of dollars are being lost! No inflation”.
- Many now expect a shift toward looser monetary policy, which is putting downward pressure on real yields and making Gold more attractive.
- At the same time, the Trump administration’s proposed “Big Beautiful Bill,” with its estimated $3.3 trillion impact on the deficit, is sparking fears over long-term fiscal health.
- The bill has drawn fire from across the political spectrum, including from Elon Musk and several Democratic leaders, who warn it could lead to inflation and a weaker US Dollar. Such a backdrop often prompts investors to turn to Gold as a hedge against instability and currency depreciation. The Senate is currently pushing to have the bill approved by Friday.
- With a July 9 tariff deadline fast approaching, the US is focusing on smaller, step-by-step trade deals rather than sweeping agreements, aiming to avoid triggering new tariffs.
- While partial progress has been made with countries like the UK and China, talks with Japan and the European Union are still unsettled. The EU has shown openness to a blanket 10% tariff but is pushing for exceptions in sensitive sectors such as semiconductors and pharmaceuticals.
- Meanwhile, President Trump has taken aim at Japan’s trade approach, especially on rice, warning that new tariffs may be imposed if no deal is reached in time.
- Trump expressed his frustration on Monday following a dispute over Japan’s reluctance to import rice from the US, which resulted in the US President stating that Japan has been “spoiled with respect to the United States of America.”
- All of this contributes to an environment where Gold looks relatively safe. Add to that the possibility of technical breakouts and increased buying interest, and it’s no surprise prices are pushing higher.
Gold technical analysis: XAU/USD bounces off trendline support, opening the potential for a retest of $3,400
After falling to trendline support from the January low on Monday, failure to gain traction below $3,250 allowed bulls to regain control of the imminent trend. With the 50-day Simple Moving Average (SMA) currently providing support for the yellow metal at $3,320, XAU/USD is now threatening a break of the 20-day SMA at $3,351. The 23.6% Fibonacci retracement of the April low-high move provides an additional barrier of resistance near $3,371.
The Relative Strength Index (RSI) is currently at 52, rising back above the neutral zone and pointing higher. This suggests a modest bullish bias. With the Gold price threatening the 20-day SMA, a clear break of $3,351 and a move above $3,371 could see prices retest the major psychological level of $3,400.
Gold (XAU/USD) daily chart
If bullish momentum fades and prices slip below $3,300, the 38.2% Fibo level could come into play at $3,292, with a deeper pullback driving Gold to the midpoint of the April move at $3,328.
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‘It’s So Fun and Freeing to Take Up This Much Space’: Louisa Jacobson on Her Breakout Year
The day that Louisa Jacobson and I are scheduled to chat over Zoom is a big one, for both New York and Jacobson herself. We’re meeting on the second day of a record-breaking heatwave, the culminating week of Pride Month, and, as it happens, the one-year anniversary of Jacobson publicly coming out. The third season of HBO’s The Gilded Age, in which Jacobson plays Marian Brook, a doe-eyed newcomer to late-1800s Manhattan high society, premiered a few days prior. And the night before, Zohran Mamdani clinched a historic victory over former governor Andrew Cuomo in New York City’s mayoral primary.
“I ranked Zohran as number one,” says Jacobson. “So, yay…I’m really excited. It’s a very cool breakthrough moment in New York politics.”
Mamdani’s win also coincided with the American premiere of Trophy Boys—a play written by Emmanuelle Mattana and directed by Danya Taymor—off-Broadway, at MCC Theatre. In it, Jacobson and the rest of the AFAB cast don drag to play an all-boys senior debate team as they prepare to face their sister school in the final battle of their high school careers. The task? Arguing the affirmative for the prompt that “feminism has failed women.”
“The opportunity during Pride Month to be doing drag and doing a show like this is so cool,” says Jacobson. “And to investigate gender as performance and dive-deep into exploring the more masculine parts of myself, as well.” She also notes that this kind of drag is the reverse of what is usually represented in popular culture. “We don’t see it as often as we see queens, you know? I think it’s less digestible. I think people don’t always understand how to receive it…So I think we were batting up a little bit with that, but it’s been really fun.”
Even as it navigates themes of privilege, toxic masculinity, and the nuances of sexual assault allegations, the play still manages to feel boisterous and campy. It even has one horny dance break, in which all the boys gyrate to Pretty Ricky’s 2005 hit “Grind With Me”—making literal the already effectively masturbatory nature of their debate. As the quartet humps chairs, doms desks, and spanks the air, it’s clear their intellectualizing is merely a coping mechanism for that specific, liminal teen space of extreme lust exacerbated by a maddening lack of experience.
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SPIE signs an agreement for the acquisition of SD Fiber
Cergy, July 1st 2025 – SPIE, the independent European leader in multi-technical services in the areas of energy and communications, announces the signing of an agreement for the acquisition of SD Fiber, which will strengthen the Group’s FttX expertise in Switzerland and southern Germany.
Strengthening FttX expertise in Switzerland and southern Germany
SD Fiber is a specialist in the deployment of fiber optic networks to the street (FTTS), to the building (FTTB) and to the home (FTTH). The Company offers turnkey solutions covering the entire value chain, from planning and installation to commissioning, maintenance and troubleshooting. In addition, SD Fiber is active in the field of smart metering as it installs digital electricity meters, which are a key enabler of intelligent energy consumption management.
Headquarters in Dietikon, in the Canton of Zurich, SD Fiber operates in both Switzerland and Germany and employs approximately 340 people. The company generated revenue of c.70 million euros in 2024.
“With SD Fiber’s expertise, we are expanding our service offering in an attractive market. Fiber optic expansion is crucial for tomorrow’s digital infrastructure. SD Fiber is very well positioned, both technically and operationally, and relies on a highly skilled and dedicated team. We are very much looking forward to working together.”, says Pierre Savoy, CEO of SPIE Switzerland, Member of the Management Board of SPIE Germany Switzerland Austria.
“We are pleased to welcome the 340 experts from SD Fiber to SPIE. With SD Fiber, we are gaining a very well positioned company with strong FttX expertise. This strengthens our presence in both Switzerland and southern Germany. SD Fiber’s expertise in smart metering is also highly relevant as it is a forward-looking field with significant growth potential. We are excited about our future together.” adds Markus Holzke, CEO of SPIE Germany Switzerland Austria.
“SD Fiber is becoming part of SPIE and we are very excited about this next step. Since our founding, we have been committed to delivering projects efficiently, with strong technical expertise and in a customer-focused way. We look forward to contributing our know-how and shaping the future together in Switzerland and southern Germany”, says Jure Karazda, CEO of SD Fiber.
Upon completion of the transaction, SPIE will acquire 96% of the shares of SD Fiber. The remaining 4% will be retained by the current management team, who will continue to lead the company and will contribute to its ongoing business development.
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CARMENES Data: Earth-like Planets Especially Common Around Low-mass Stars – astrobiology.com
- CARMENES Data: Earth-like Planets Especially Common Around Low-mass Stars astrobiology.com
- Tiny stars, many Earths: Potentially habitable worlds may be especially common around low-mass stars Phys.org
- There should be many Earth-like planets near red dwarfs Universe Space Tech
- Astronomers Identify Promising Habitable Zone Candidates Labroots
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Swiatek wins opener as she eyes best Wimbledon run yet
WIMBLEDON — A long time ago, in a galaxy far, far away, Iga Swiatek was the best junior here on the grass.
“It feels like it was in a different lifetime, you know?” Swiatek told reporters on Sunday. “It was probably the highlight of my career back then. It felt pretty surreal. But on the other hand, I came back home, and nothing really changed.
“I remember I thought maybe life is going to be, like, perfect now. I was a bit disappointed. It was still the same, and I still had to get back to work. I remember having a lot of just hope and just the feeling that maybe it’s going to be also possible in the future at the pro level.”
Wimbledon: Scores | Order of play | Draws
It was 2018 and the 17-year-old Swiatek won her first (and only) junior Grand Slam title on a surface that is technically her worst as a professional.
That draw was loaded with future stars — No. 3 seed Coco Gauff, No. 8 Clara Tauson, No. 10 Wang Xinyu and No. 11 Leylah Fernandez. Swiatek beat unseeded Emma Raducanu 6-0, 6-1 in the quarterfinals.
Fast forward to today, with Swiatek — a four-time Roland Garros champion on the red clay but with a career-best quarterfinal berth at Wimbledon two years ago — coming off her best Hologic WTA Tour grass result ever. Last Saturday’s final in Bad Homburg was her first WTA final since winning in Paris more than a year ago.
On Tuesday, the No. 8 seed here dropped a 7-5, 6-1 decision on Polina Kudermetova. It was Swiatek’s 61st consecutive win in an opening match — the longest streak of any woman this century. She’ll meet Caty McNally, a 6-3, 6-1 winner over British wildcard Jodie Burrage on Thursday.
With the victory, Swiatek’s record at Wimbledon is 12-5 (.706). That’s a fairly stellar mark, but perhaps because she is so dominant on clay, Swiatek has always been self-deprecating about her grass skills.
And yet, the 24-year-old from Poland defeated Jasmine Paolini definitively, 6-1, 6-3, in the Bad Homburg semifinals.
“It for sure gave me a lot of confidence,” Swiatek said. “Obviously it’s tennis, so every day is different, but I felt like I’m playing great. I really pushed Jasmine the way I wanted to. I had really great time in Bad Homburg and enjoyed it. Yeah, also having more time to practice before on grass really helped. I feel that I have a little bit more skills.”
And while Paolini reached the finals here a year ago, she is not listed among the leading favorites to win this title. Swiatek, a small distance behind Aryna Sabalenka, is — ahead of 2022 Wimbledon champion Elena Rybakina and reigning French Open winner Coco Gauff.
Swiatek gave Jessica Pegula a good go in Bad Homburg, losing a brisk final by a 6-4, 7-5 count.
“She said in her speech, `Oh, there’s hope for me.’ I was like, `You’re still pretty good,’ ” Pegula said on Sunday. “I’m pretty sure she made [Wimbledon] quarters a few years ago. She won junior Wimbledon — you’re obviously not like a lost cause.
“I think she was a little hard on herself … it’s hard when you don’t feel as natural on a surface. Yeah, she’ll be fine.”
Swiatek arrived at Wimbledon late Saturday night and — aside from her media responsibilities — had Sunday off. She practiced Monday and looked sharp in her first match.
It’s all a part of a committed effort to get better on grass. After losing to Sabalenka in the semifinals at Roland Garros, Swiatek opted to skip the WTA 500 events at Queen’s Club and Berlin. Instead, she spent a week practicing in Mallorca. Slowly, surely, she’s feeling better on grass.
“Just more time, like give me opportunity to, yeah, work on some movement and stepping to the ball a little bit differently than on clay — it helped,” Swiatek said. “You really have to trust your shots on grass. You can’t really pull back.
“Any shot that will give your opponent more time to go in is probably the shot that will make you lose the rally. I just went for it in Bad Homburg, and it really worked.”
There’s a theory floating around that because her customary clay runs in Stuttgart, Madrid, Roma and Paris have been so taxing, there was never much left in Swiatek’s tank, physically or emotionally, for Wimbledon.
After a work-vacation on a lovely Spanish island, she looks fresh and ready to challenge for one of the two Grand Slam titles that have eluded her.
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Sean 'Diddy' Combs jury asks to review Casandra Ventura's testimony – Reuters
- Sean ‘Diddy’ Combs jury asks to review Casandra Ventura’s testimony Reuters
- Here’s what the jury in Diddy’s sex trafficking trial is considering BBC
- June 30, 2025 – Jury begins deliberations in the Sean ‘Diddy’ Combs trial CNN
- Sean ‘Diddy’ Combs confirms he won’t testify and praises the trial judge for an ‘excellent job’ AP News
- Abuser, cheater, charmer: Diddy’s trial revealed the many faces of the ‘freak-off’-loving impresario inkl
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‘Here One Moment’ by Liane Moriarty highlights the inner lives — and deaths — of airplane passengers
The cover of “Here One Moment” and author Liane Moriarty/ (Courtesy of Crown and Über Photography) Host Robin Young speaks with Australian author Liane Moriarty. Her latest best-selling novel, “Here One Moment,” tells the story of plane passengers who are told by a mysterious woman when and how they will die. The book is out in paperback on Tuesday.
Book excerpt: ‘Here One Moment’
By Liane Moriarty
Excerpted from “Here One Moment” by Liane Moriarty Copyright © 2024 by Liane Moriarty. Excerpted by permission of Crown. All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
This article was originally published on WBUR.org.
Copyright 2025 WBUR
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LVMH: Share transactions disclosure
LVMH Paris, July 1st, 2025
The disclosure of share transactions carried out from June 23rd to June 27th, 2025, was sent to the AMF on July 1st, 2025. As required by current law, this document is publically available and can be consulted on the Company’s website (www.lvmh.com) under the section «regulated information».
LVMH
LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Colgin Cellars, Hennessy, Glenmorangie, Ardbeg, Belvedere, Woodinville, Volcán de mi Tierra, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Newton, Bodega Numanthia, Ao Yun, Château d’Esclans, Château Galoupet, Joseph Phelps and Château Minuty. Its Fashion and Leather Goods division includes Louis Vuitton, Christian Dior, Celine, Loewe, Kenzo, Givenchy, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Loro Piana, RIMOWA, Patou, Barton Perreira and Vuarnet. LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe, Benefit Cosmetics, Make Up For Ever, Acqua di Parma, Fresh, Fenty Beauty by Rihanna, Maison Francis Kurkdjian and Officine Universelle Buly. LVMH’s Watches and Jewelry division comprises Bulgari, TAG Heuer, Tiffany & Co, Chaumet, Zenith, Fred and Hublot. LVMH is also active in Selective Retailing as well as in other activities through DFS, Sephora, Le Bon Marché, La Samaritaine, Groupe Les Echos-Le Parisien, Paris Match, Cova, Le Jardin d’Acclimatation, Royal Van Lent, Belmond and Cheval Blanc hotels.
LVMH CONTACTS
Analysts and investors
Rodolphe Ozun
LVMH
+ 33 1 44 13 27 21Media
Jean-Charles Tréhan
LVMH
+ 33 1 44 13 26 20MEDIA CONTACTS
France
Charlotte Mariné / +33 6 75 30 43 91
Axelle Gadala / +33 6 89 01 07 60
Publicis Consultants
+ 33 1 44 82 46 05France
Michel Calzaroni / + 33 6 07 34 20 14
Olivier Labesse / Hugues Schmitt / Thomas Roborel de Climens / + 33 6 79 11 49 71Italy
Michele Calcaterra / Matteo Steinbach
SEC and Partners
+ 39 02 6249991UK
Hugh Morrison / Charlotte McMullen
Montfort Communications
+ 44 7921 881 800US
Nik Deogun / Blake Sonnenshein
Brunswick Group
+ 1 212 333 3810China
Daniel Jeffreys
Deluxewords
+ 44 772 212 6562
+ 86 21 80 36 04 48Attachment
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Melting mountains, rising danger: Climate change fuels glacial floods in northern Pakistan – Ptv.com.pk
- Melting mountains, rising danger: Climate change fuels glacial floods in northern Pakistan Ptv.com.pk
- NEOC issues impact-based weather alerts for risk of flash floods, GLOF events, and urban flooding Ptv.com.pk
- Shrinking glaciers: a threat to ecological balance The Express Tribune
- Timely alerts, early preparedness key to disaster mitigation: NDMA Chairman nation.com.pk
- NDMA issues monsoon flood alert Dunya News
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